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Turkey to Cut Gas Prices by 10%

Turkey will reduce the price of natural gas by 10% for domestic consumers and industrials from October 1, Energy Minister Berat Albayarak said on Thursday. Speaking in an interview with state-run broadcaster TRT Haber, Albayrak also said the government did not foresee a price hike in electricity, Reuters reported. The government will examine whether positive steps on TurkStream gas export project could be taken during Russian President Vladimir Putin’s visit during the World Energy Congress due to take place in Istanbul from Oct. 9-13, he said. Russia has said it hopes to sign an agreement with Turkey in October on the implementation of the TurkStream, in which Gazprom is an operator. According to Iran gas officials, Iran’s natural gas export to Turkey has reached 1.8 billion cubic meters, which marks an 11% rise since March 20, compared with the corresponding period of last year. National Iranian Gas Company has recently announced that it can increase gas export to Turkey to 36 million cubic meters per day through the existing infrastructure.